Statutory requirements of AGM and Annual Returns

The Accounting and Corporate Regulatory Authority (ACRA) of Singapore As part of on-going efforts to keep Singapore business friendly and competitive, legislative changes to the Companies (Amendment) Act 2017 that will reduce the regulatory burden for companies will take effect on 31 Aug 2018.

The key legislative amendments are:

• The timelines for holding AGM and filing AR have now been aligned with the Financial Year End (FYE).

• Specific safeguards have been introduced for private companies exempted from holding AGMs.

• The process of filing annual returns for the solvent Exempt Private Companies (EPC) and Dormant Companies has been simplified.

The changes will take effect on 31 August 2018.

The following legislative amendments to the Companies Act took effect for companies with FYE ending on or after 31 August 2018.

If you would like detailed explanation of the changes please refer to the Accounting and Regulatory Authority Singapore (ACRA) website (Click link).

If you want specific advice relating to the above, please feel free to contact us and one of professional advisors will be pleased to share more.